L&T launches B2B e-com platform to help MSMEs in sourcing industrial products, services
The Hindu
The platform would help MSMEs digitally source their industrial supplies pan-India
Bengaluru
There is a critical need to digitalise supply chains to enhance the overall global competitiveness of Indian industries, especially small and medium enterprises, as the country aspires to become a $5 trillion economy, said S. N. Subrahmanyan, CEO & MD, Larsen & Toubro.
To address this market requirement, L&T on March 8 launched L&T-SuFin, an integrated e-commerce platform for B2B industrial products and services.
The platform, designed based on L&T’s expertise in manufacturing and engineering, procurement and construction, would help MSMEs digitally source their industrial supplies pan-India. It would also offer small businesses access to working capital from banks and other financial institutions, said the company in a statement.
The platform already has 15,000 sellers and about 20,000 registered users. L&T-SuFin will host KYC-verified sellers and buyers vetted by L&T and guarantee a last-mile delivery to over 15,000 pin codes. The platform will also provide an online transaction facility for trading products and enabling services with a payment and settlement mechanism that will aid traditional enterprises to take on their newer digital-native competitors, as per the company.
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The U.S. President’s economic and tariff policies and measures to secure his country’s borders may seem justified in terms of promoting his nation’s interests but have wider ramifications not only for Americans themselves, but also for the rest of the world. His tariff proposals will result in supply chain disruptions, lead to market and currency volatility, disrupt capital and trade flows, contribute to inflation and cause a decline in world trade and economic growth, worsening the plight of the poor, especially in developing economies.